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UN / GLOBAL ECONOMIC PROSPECTS 2010
STORY: UN / GLOBAL ECONOMIC PROSPECTS 2010
TRT: 1.39
SOURCE: WORLD BANK
RESTRICTIONS: EMBARGOED UNTIL 1900 EST, JUNE 9 2010
LANGUAGE: ENGLISH / NATS
DATELINE: 9 JUNE 2010, WASHINGTON DC / FILE
FILE - APRIL 2009, SOFIA, BULGARIA
1. Med shot, outdoor market
FILE – MAY 2008, HYDERABAD, INDIA
2. Med shot, street scene
FILE – APRIL 2009, MACEDONIA
3. Med shot, people in room
4. Close up, woman
FILE – OCTOBER 2008, KYRGZ REPUBLIC
7. Med shot, outdoor market
8. Close up, money exchanging hands
9 JUNE 2010, WASHINGTON DC
SOUNDBITE (English) Andrew Burns, World Bank Group:
“On the one hand that seems like it is a European problem and it doesn’t concern developing countries but our research suggests that this might actually have an important impact. So we’re seeing that growth that otherwise is actually moving along very nicely. We expect growth of 3.3 percent for the world as a whole, and for developing countries more than 6 percent this year we see that that’s potentially going to be threatened by what’s happening in Europe.”
FILE - APRIL 2009, BULGARIA
9. Wide shot pan, factory floor
10. Med shot, street/alley
FILE – MAY 2008, DHAKA, BANGLADESH
12. Med shot, women sewing
13. Close up, sewing
9 JUNE 2010, WASHINGTON DC
SOUNDBITE (English) Elliot Riordan, World Bank Group:
“It is definitely a tenuous time. I think there’s s lot of tension looking forward and we were on, we were moving very hopefully along at an increasing rate of growth. Our earlier expectations were to raise the outlook for the US, Japan, for Asia, for developing countries, the latter group that were really chasing development.”
FILE – MAY 2008, HYDERABAD, INDIA
14. Med shot, street scene
15. Med shot, men sitting talking
FILE - NOVEMBER 2008, HANOI, VIETNAM
20. Med shot, money
FILE – OCTOBER 2008, CHINA
22. Med shot, grocery store
23. Close up, money
FILE – NOVEMBER 2008, HANOI, VIETNAM
24. Wide, street
FILE – MAY 2008, INDIA
25. Wide shot, port with cranes
FILE—FEBRUARY 2010 MOZAMBIQUE
26. Med shot, cargo unloading in big nets
FILE—OCTOBER 2008, KIEV, UKRAINE
27. Wide, outdoor market
28. Med shot, money exchanging hands
Economists call it ‘financial contagion,’ when a crisis in one part of the world infects other countries. The latest report from the World Bank points to Europe’s debt crisis as a potential drag on medium term economic growth.
SOUNDBITE (English) Andrew Burns, World Bank Group:
“On the one hand that seems like it is a European problem and it doesn’t concern developing countries but our research suggests that this might actually have an important impact. So we’re seeing that growth that otherwise is actually moving along very nicely. We expect growth of 3.3 percent for the world as a whole, and for developing countries more than 6 percent this year we see that that’s potentially going to be threatened by what’s happening in Europe.”
The debt crisis has been contained, so far, but economists warn it has potential to slow investments and growth, especially in developing countries with close ties to Europe.
SOUNDBITE (English) Elliot Riordan, World Bank Group:
“It is definitely a tenuous time. I think there’s s lot of tension looking forward and we were on, we were moving very hopefully along at an increasing rate of growth. Our earlier expectations were to raise the outlook for the US, Japan, for Asia, for developing countries, the latter group that were really chasing development.”
The report does contain some good news: Projected growth in developing economies indicates new rising markets outside of the more developed countries. Trade is rebounding, and the World Bank expects it to rise by about 30 percent this year, before tapering down to 8 percent in the next two years. Nearly half of that demand will come from developing countries.
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